Landlord Journey

Valuation

Our initial valuation will be an honest opinion of what we believe is achievable for your property. This will be based on experience, what is available and what we have already let. You have offered us the opportunity to value your property for the purpose of finding a suitable tenant and an empty property benefits nobody. Its not just finding a Tenant its finding the right Tenant for your property. We establish your requirements - what you are looking for - and only after confirmation from you will we begin referencing.

Marketing

Once instructed, we will market the property through our website goddardco.co.uk and the national portals to include Rightmove and Zoopla. We also utilise social media and innovative marketing strategies such s Facebook, Instagram and TikTok.

Referencing

We begin by establishing the criteria required by you for your tenant, and when we find someone we reference using VOUCH. Vouch referencing are an established reference company and provide you with the peace of mind that the referencing process is both professionally carried oud and independent.

Prospective tenants will have their details thoroughly checked to include, electoral register, credit check, current landlords if applicable and employment details. Only upon successful referencing will we proceed with the tenancy, if a Guarantor is required we will carry out the same process.

Tenancy

We recommend commencing with a minimum 6 month tenancy. This can be shorter if required and can be tailored accordingly. The Assured Shorthold tenancy agreement is a legally binding contract which we can sign on your behalf, or forward copies for your signature.

The Tenancy agreement, all relevant paperwork and keys will be given to the Tenant following provision of the rent and deposit.

Inventory

A full written and photographic inventory listing is an essential document, it will cover details relating to the generic condition of the property. Even if you are letting your property out 'unfurnished', the inventory will cover such items as colours of wall, the condition of decoration and floor covering. In the event of any disputes over deductions for damages or dilapidations the inventory will provide proof of the condition at the beginning of the tenancy.

Also listed are the meter readings for the utility companies (where applicable). We will notify the relevant Council Tax authority and Anglian Water of the change in tenancy. The Tenants are provided with contact details of electric and gas suppliers and it is their responsibility, along with Broadband and Satellite television connection, to notify the relevant providers.

Deposits

Deposits are held to cover and damages or dilapidations which may occur during the tenancy (over and above general wear and tear). For all our managed properties the deposit is registered with the Tenancy Deposit Scheme. It is refundable at the end of the tenancy only after the tenant has vacated the property and providing the tenancy has been conducted in a satisfactory manner. Should there be any disputes with the return of the deposit which cannot be resolved through negotiation, any disputed amount will be forwarded to the Tenancy Deposit Service for a final decision trough arbitration.

We are now also able to offer a 'No Deposit Option' alternative called REPOSIT, this offers landlords eight weeks cover for any potential issues at the end of the tenancy.

Insurance

We recommend you maintain a level of Landlords Buildings and Contents Insurance whilst the property is being let out. Please also ensure that you contact your Bank or Building Society should you have a mortgage, to advise them you are preparing to let the property. As the rent is classified as un-earned income, you will also be required to complete an end of year self-assessment tax return for the HMRC.

Property Visits

We carry out property visits on all managed tenanted properties - initially three months after the commencement of the Tenancy and regularly thereafter. These visits allow us to assess the condition of the property and advise if something needs attention, helping reduce the risk of the problem becoming worse and when the contract is due for renewal we are in a position to offer you the best advise at all times.

Keys

On completion we would normally provide a front door key for each Tenant and at least one copy of any other key. With any managed property we require a full set of keys to be held in our office in the case of an emergency.

Maintenance

At some point every property will need some routine maintenance carried out. In the majority of cases the problem can be resolved easily. If a serious fault does occur it is important to act immediately. If we cannot contact you, we may authorise the repair on your behalf. Carrying out repairs is often as important for you as it is the tenant and caught early enough can save you a lot of money.

Should you have contractors that you know and would prefer to use we will keep the details and arrange repairs directly with them (where possible). We do not insist you use our preferred contractors however speed is the essence to avoid further damages.

Compliance

There are many areas of compliance that a landlord have to adhere to, these include the Energy Performance Certificate, whereby every property has to achieve at least an E rating or above. Every gas appliance has to be inspected and certified annual be a Gas Safe engineer.

As of 2021 every let property must have an Electrical Installation Condition Report (EICR) which confirms the electrical safety. Smoke alarms to all floors, carbon monoxide monitors where there are fuel burners, and fire regulation labels to soft furnishings are all governed by statutory regulations that have to be adhered to.

Renewals & Final Inspection

Towards the end of the tenancy we will contact the tenants to ascertain whether they wish to renew their contract. With your consent they can either sign another contract, or remain in the property on a Periodic Tenancy, whereby all of the terms and conditions still remain the same.

When a tenancy comes to an end we will make arrangements for the return of the keys to carry out a final inspection, which will be checked against the original inventory prepared at the beginning of the tenancy. We will take final meter readings and a forwarding address. If you wish, you can inspect the property before the deposit is returned, but this must be done with a few days of the tenants vacation as we have a set period to return the deposit.